FEATURED ARTICLES ABOUT DEATH CERTIFICATE - PAGE 5

Ghanshyam Doshi has a problem of plenty. His seven demat accounts are costing the Ahmedabad-based businessman more than Rs 4,500 a year. This might have been small change when stock investments were raking in big bucks for Doshi, but not now. Recently, three stock broking companies, with which he has demat accounts, hiked the annual maintenance charges. Doshi now intends to cut down the number of accounts and consolidate his holdings. However, most of his accounts are jointly owned with other relatives.

Mark Zuckerberg would be very glad if he visited the sole internet centre in Chandauli, a dusty village in Rajasthan's Alwar district, about 170 km northeast of Jaipur. A third of the 20-odd kids glued to their laptop screens are visibly excited by the world wide web, and all of them, without exception, are on Facebook. Thirteen-year-old Vishal Kumar rapidly scrolls down his timeline and stops at a photo posted by a friend. Asked if his Facebook friends are all from his school, he says, "No, no, I have other friends, too. " He can type in English but does not understand much of it, but that is no impediment as he quickly shows us how Google Translate comes to his aid. He answers all our questions but never once takes his eyes off the screen.

The death of a loved one is the most dreaded thing that can happen to any family. It can get even more traumatic when the family realises that the deceased has not left a will behind. In such a situation, the family is usually left running from pillar to post, trying to gain access to the property which, in many cases, could be the only saviour from doom. However, according to experts, the family can still get its due even in the absence of a will, provided it can get hold of a few documents.

Mutation refers to recording in the revenue records of transfer of title of the property from one person to another. The mutation in the municipal records is required for the purpose of payment of property taxes and it does not mean a legal title in the name of the person in whose name the property has been mutated in the municipal records. The documents required include making an application to the Tahsildar on a plain paper, along with Nonjudicial stamp of relevant value containing information about the name of the area in which the right has been acquired, the description of the right acquired, the name, parentage, caste and residence of the person from whom the right has been acquired, the manner in which the right has been acquired, the name, parentage, caste and residence of the person who has acquired the right, the date on which the right was acquired and a copy of document on the basis of which the mutation is sought e.g. Sale Deed, Will etc. A proclamation is issued inviting objections to the proposed mutation and specifying the date, not less than fifteen days from the date of the proclamation, up to which any objection to the mutation will be entertained.

Transmission refers to the transfer of securities from the demat account of a deceased holder to that of the surviving joint holder(s), nominee or legal heir. On the death of a joint holder of a demat account, the surviving holder or holders become entitled to the securities. This process requires an application in a prescribed format, along with supporting documents, as evidence for the death of the holder. The claimants have to submit the application to the depository participant with whom the demat account with the deceased was held.

Mutation of property is the recording in the revenue records the transfer of title of a property from one person to another. The mutation in the municipal records is for the purpose of payment of property taxes and it does not mean a legal title to the person to whom the property has been mutated. The procedure, documentation required and the fees payable varies from State to State. However, generally, the procedure includes an application on a plain paper, along with non-judicial stamp of relevant value, containing some information.

Joint holding in mutual funds Investing in a mutual fund under joint names is a good idea. It can be operated by either of the unit holders. Joint holding is also hassle-free because the investment passes on to the survivor if one of them dies, as the right of the joint holders is superior to that of nominees. Funds allow investment jointly, either between two or among three unit holders. Joint application Joint holding is established at the time of application. All joint holders should sign the application.

By Anil Chopra - Group CEO & Director, Bajaj Capital Death is a certainty. If a company fixed deposit holder dies before the maturity of the FD, it becomes the duty of his survivors to claim the money. Here is how you can overcome that situation: Fixed deposits are a popular investment option, especially among the retired citizens who live on regular income. To avoid uncomfortable situations and running around, investors and their family members should be aware of the claim process in case of death of the deposit holder.

If travelling or seriously indisposed With online filing, you can submit your return from any corner of the world. However, if you take the offline route and are travelling overseas, any person authorised by you can file on your behalf. You need to give him a power of attorney, which will need to be submitted along with the return to the income tax office. The same procedure is to be followed if someone is indisposed and cannot file the return himself. Modifying the return It's human to make a mistake.

Dealing in Indian real estate matters, especially if you have lived outside the country for a long time can be a nightmare. Ask Dr Vinny Sastri, an entrepreneur based in Albany, New York. Dr Sastri, a US citizen, inherited a residential apartment in Chennai from his uncle (father's brother) in 1999. But the process to transfer the title to his name was anything but smooth. "My uncle was very good at documentation and legal paperwork. He left a Will spelling out clearly the distribution of his assets.